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  #21  
Old 30.11.2009, 08:48
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Re: Is being a 'Financial advisor' a bum job?

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I was thinking by now your investment punter out there would realise that all these schemes/policies since the 60's only make money for the sales people and those that manipulate the investments.
We have had Unit Trusts, Endowments, Pensions, Investment Funds, Hedge Funds, Bonds etc etc.

In fact I am surprised that the City of London and the financial centres of the world have any business left to do.
I gather there are still a load of suckers out there; or perhaps they are just selling trash ("bundled financial investments") to each other as they have been doing for the last 10 years and think they are making money. Or perhaps it is like musical chairs but the opposite; when the music stops, you get hit with the loss.

I sit here in disbelief that the FT100 is so high at 5,200 +. I really thought it would be around the 3,500 max and ask myself why is this the case.

Is it becuase the banks have off loaded their Toxic Debts (Bad Debts) to the government and got Government Bonds in exchange and used these as collateral to buy shares and hype the market or are there so many stupid (perhaps I will be proved wrong) punters buying shares doing the Bar....Bar.....Bar......Sheep Syndrome.
Most likely the Banks using taxpayers' bailout money to do circular trading and "earn" bonuses on virtual (but not virtuous) profits.
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  #22  
Old 17.04.2010, 15:56
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Re: Is being a 'Financial advisor' a bum job?

Ive been offered a job as an expat IFA and it is commission only and all expenses paid...by me! They have said I will earn a fortune but have seen some bad forums about them (wont mention the name!) They said I will need to put up about 5k to see me over for 10 weeks.

Anyone have any advice? I read a website blog called www.offshore-exposed.com. It has put me off big time but as I think its been written by an ex offshore IFA who has really opened up about the industry.
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  #23  
Old 17.04.2010, 16:06
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Re: Is being a 'Financial advisor' a bum job?

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Ive been offered a job as an expat IFA and it is commission only and all expenses paid...by me! They have said I will earn a fortune but have seen some bad forums about them (wont mention the name!) They said I will need to put up about 5k to see me over for 10 weeks.

Anyone have any advice? I read a website blog called www.offshore-exposed.com. It has put me off big time but as I think its been written by an ex offshore IFA who has really opened up about the industry.
Read your post slowly and carefully; then read the whole thread and I think you can answer your own question.
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  #24  
Old 17.04.2010, 16:28
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Re: Is being a 'Financial advisor' a bum job?

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Ive been offered a job as an expat IFA and it is commission only and all expenses paid...by me! They have said I will earn a fortune but have seen some bad forums about them (wont mention the name!) They said I will need to put up about 5k to see me over for 10 weeks.

Anyone have any advice? I read a website blog called www.offshore-exposed.com. It has put me off big time but as I think its been written by an ex offshore IFA who has really opened up about the industry.
Historically the Swiss franc has been very strong against other currencies so it is difficult to find an investment in another currency that even covers the potential exchange rate loss never mind make a profit.

Consequently companies are tempted to offer schemes that are barely legal or simply will never meet the promises made. Do not forget the "investment" also has to provide the (usually) substantial commision for the IFA before the investor sees any return. The need to pay the commission is the reason many schemes have a minimum term.

Also IFA is often not the correct role description; many IFAs do not offer independent financial advice they only offer the schemes that can pay their commission.
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  #25  
Old 20.09.2010, 12:25
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Re: Is being a 'Financial advisor' a bum job?

Watch Panorama (BBC1 at 8.30 p.m. GMT on Mondays, BBC News at 4.30 a.m. GMT on Thursdays) in October.

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The BBC’s flagship current affairs programme Panorama will feature the activities of offshore IFAs as part of an investigation into the fees and commissions taken by advisers for pension products and the sales tactics they use to earn them.
Offshore IFAs in Panorama investigation
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  #26  
Old 16.11.2011, 14:07
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Re: Is being a 'Financial advisor' a bum job?

Recent post (by "Expat") about an experience in Basel: http://whocallsme.com/Phone-Number.aspx/02072454429/21

(Related discussion on EF: Moving to Zurich from London !!)

Last edited by Reb77Br; 16.11.2011 at 14:24.
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